TORONTO – Many Atlantic Canadian homeowners may be on the hook for a significant portion of the damages to their homes caused by hurricane Fiona due to a lack of insurance covering flooding caused by storms. Residential home insurance policies usually cover wind damage, including falling trees, and certain kinds of water damage, according to Amanda Dean, vice-president, Atlantic, for the Insurance Bureau of Canada. However, they normally require an add-on policy in order to cover floods, she said. These overland flood endorsements didn’t exist in Canada before 2015, she said, when an increasing number of flooding events made it clear that additional coverage was needed. …There are gaps in the Canadian insurance industry when it comes to natural disasters, said Nadja Dreff, senior vice-president of global insurance at DBRS Morningstar.